Schwab Lures Fidelity Exec for Global Unit

Charles Schwab & Co. has raided archrival Fidelity Investments for an executive to help run its international unit.

Mark Collier, president of Fidelity Investment Advisor Group, has been named senior vice president of Schwab & Co., and a co-head of Schwab International, a company representative said Wednesday. He will be oversee Schwab's businesses in Europe, the Middle East, and Africa, including ShareLink Investment Services PLC, the leading discount broker in the United Kingdom.

A spokesman for Schwab said the firm has yet to determine where Mr. Collier will be based and when he will begin his new job.

Mr. Collier, a United Kingdom native, had worked for Fidelity since 1987, moving to Boston from London in 1994 after being named president of the unit serving financial advisers.

Executive vice president Jay Lanigan, a 16-year Fidelity veteran who had reported to Mr. Collier, will assume acting leadership for the investment advisory unit, a Fidelity representative said.

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